Print
Real Estate - Commercial

Developer Of The Avenue Won't Seek Development Agreement

By Cece Nunn, posted Apr 23, 2018
The developer of a proposed $200 million project on Military Cutoff Road called The Avenue will proceed with pursuing a conditional rezoning and special use permit rather than also working on a development agreement with the city of Wilmington, officials said. 

Under development by Greensboro-based The Caroll Companies, The Avenue is planned to be anchored by a Westin hotel called Westin on The Avenue and to feature an upscale spa and conference center. The project will also include apartments, class-A office space, restaurants and retailers.

The Wilmington City Council voted April 3 to amend the city's Land Development Code to allow buildings on property associated with a development agreement to reach 75 feet high in lieu of a special use permit.

Rather than an agreement, however, officials with The Carroll Companies decided to seek only a special use permit to be allowed the 75-foot heights needed for The Westin and an apartment building that will have retailers on the first floor.

"The first time we submitted our project last summer, there was confusion on the intensity of the project and traffic impacts. We thought a development agreement would make it clear the project intensity was substantially reduced along with outlining, in a written and enforceable agreement, that the current traffic patterns will actually improve with the development of our project due to the extent and timing of road improvements we will make," according to a statement from Livian Jones, a consultant for The Carroll Companies. "Given the perception the development agreement process is not transparent, we decided to move to a rezoning with conditions to alleviate any such concerns. We look forward to the opportunity to bring this unique and landmark project to the City of Wilmington."

The Avenue is planned on a 44-acre site that would need a rezoning beause it currently serves as a mobile home park. The project requests are expected to be considered by the Wilmington Planning Commission in May.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Georgiarowe

Salling and Tate Dentistry Launches Annual "Gunner’s Runners" Shoe Collection Event, Aiming to Surpass Last Year's Success

Georgia Rowe - Wide Open Tech
Jasonpathfinder3

What You Need to Know About SECURE 2.0 and Its Effect on Retirement Plans

Jason Wheeler - Pathfinder Wealth Consulting
Burrus rob headshot 300x300

Spreading Wings for Flight: 2nd Annual Trade Show Highlights the Ingenuity of UNCW Business Students

Robert Burrus - Cameron School of Business - UNC-Wilmington

Trending News

City Club, Event Center On The Market For $7.5 Million

Emma Dill - Apr 16, 2024

Wilmington Tech Company Tapped For Federal Forestry Contract

Audrey Elsberry - Apr 15, 2024

Commercial Real Estate Firm Promotes Adams, Mitchell To Vice President Roles

Staff Reports - Apr 16, 2024

New Hanover Industrial Park To Get $3.3M In Incentives For Expansion, New Jobs

Emma Dill - Apr 15, 2024

Gravette Named Executive Director Of Nir Family YMCA

Staff Reports - Apr 16, 2024

In The Current Issue

Banking On West Bank’s Future

After more than two years of debate, New Hanover County leaders are working to establish the guard rails that will guide any future developm...


Surgery Center Recognized By Orthopedic Organization

Brunswick Surgery Center recently received four certificates of excellence from accreditation organization DNV Healthcare....


Area Attorneys Chosen For 2024 Super Lawyers List

Included in this year's Business Journal Law Issue are those locally who made Thomson Reuters' Super Lawyers and Super Lawyers-Rising Stars...

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2024 Power Breakfast: The Next Season